Inflation exceeds Indian central bank's target for first time in a year and a half
Inflation in India rose last month, exceeding the Reserve Bank of India's target for the first time in a year and a half.
Bloomberg News reported that India's consumer price index rose to 4.38% in June compared to the same month last year, according to official data released on Monday.
The consumer price index exceeded the Reserve Bank of India's target of 4%, according to the German news agency dpa.
India's inflation rate had stood at 3.93% in May.
The rise comes amid continued fuel price increases following recent hikes by retailers, while US-Iranian attacks after a brief truce renewed concerns about shipping through the Strait of Hormuz, pushing crude oil prices to nearly $80 per barrel on Monday.
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Original source: Al Arabiya
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